Macquarie Group Ltd. Acquires Shares of 173,000 Portola Pharmaceuticals Inc (PTLA)

Macquarie Group Ltd. bought a new stake in Portola Pharmaceuticals Inc (NASDAQ:PTLA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 173,000 shares of the biopharmaceutical company’s stock, valued at approximately $6,534,000.

Several other institutional investors have also made changes to their positions in PTLA. Sector Gamma AS increased its stake in Portola Pharmaceuticals by 49.0% in the 2nd quarter. Sector Gamma AS now owns 200,800 shares of the biopharmaceutical company’s stock valued at $7,584,000 after buying an additional 66,000 shares during the period. First Mercantile Trust Co. boosted its position in shares of Portola Pharmaceuticals by 53.5% in the 2nd quarter. First Mercantile Trust Co. now owns 13,200 shares of the biopharmaceutical company’s stock worth $499,000 after buying an additional 4,600 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Portola Pharmaceuticals by 12.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 32,408 shares of the biopharmaceutical company’s stock worth $1,224,000 after buying an additional 3,700 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Portola Pharmaceuticals in the 1st quarter worth about $128,000. Finally, Creative Planning boosted its position in shares of Portola Pharmaceuticals by 151.2% in the 2nd quarter. Creative Planning now owns 134,902 shares of the biopharmaceutical company’s stock worth $5,095,000 after buying an additional 81,202 shares in the last quarter. 94.25% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Jeffrey W. Bird bought 390,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average price of $25.84 per share, with a total value of $10,077,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Bird bought 137,563 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was purchased at an average cost of $25.17 per share, with a total value of $3,462,460.71. The disclosure for this purchase can be found here. Insiders own 4.60% of the company’s stock.

Several equities research analysts recently commented on PTLA shares. Oppenheimer set a $60.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, August 26th. ValuEngine upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Credit Suisse Group upgraded shares of Portola Pharmaceuticals from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research report on Monday, August 27th. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 4th. Finally, William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Monday, August 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $52.17.

Shares of PTLA stock opened at $27.15 on Tuesday. Portola Pharmaceuticals Inc has a twelve month low of $24.63 and a twelve month high of $56.70. The stock has a market capitalization of $1.82 billion, a P/E ratio of -5.64 and a beta of 1.70. The company has a debt-to-equity ratio of 0.91, a current ratio of 6.69 and a quick ratio of 6.59.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.12). Portola Pharmaceuticals had a negative net margin of 1,503.29% and a negative return on equity of 111.64%. The firm had revenue of $4.01 million during the quarter, compared to analyst estimates of $6.35 million. During the same period in the previous year, the firm posted ($1.22) EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. analysts expect that Portola Pharmaceuticals Inc will post -5.77 EPS for the current year.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.

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Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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